Strong annual export growth for UK businesses

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The number of UK firms exporting, and the value of exports, has increased once more year-on-year according to the latest DiT data.

Figures from HMRC showed 110,800 VAT-registered businesses exporting last year, whilst the exports of goods across all four UK regions also increased.

Scotland led the export growth charts with a 5.6% rise in goods sold abroad, followed by 4.2% in Wales, 2.1% in England and 1.9% in Northern Ireland.

The value of goods sold over the last 12 months was a combined £305 billion, made up of £248.6 billion in the UK, £30.3 billion in Scotland, £17.2 billion in Wales and £8.9 billion in NI.

The average worth of exporting to UK businesses for the last quarter of 2018 stood at £780,000.

International Trade Secretary Dr Liam Fox said of the latest results that: “The continued rise in British exports across the country highlights the true exporting power across all UK regions.

Read more: 71% of UK manufacturers have an export-based growth strategy

“This is fantastic news for British businesses, who should be encouraged by these figures to take advantage of the clear opportunities available for growing their business overseas.”

If your business is yet to start exploring the proven benefits of exporting and the business growth opportunities it provides, find out how Go Exporting can help open a world of opportunities here.

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